CRYPTO LOBBY US
Tether's $100 billion stokes stablecoin stability concerns
As Tether toasts $100 billion in circulation this week, the rapid rise of the world's biggest stablecoin has highlighted concerns about potential risks to wider financial markets.
Texas crypto company sues SEC for 'overreach' on digital assets
Fort Worth-based crypto company Lejilex and lobbying group Crypto Freedom Alliance of Texas (CFAT) claim the SEC has asserted jurisdiction over the industry without a "clear statutory mandate." Lejilex wants the court to rule that listing pre-existing tokens will not violate securities laws.
Cryptoverse: Bitcoin derivatives traders bet billions on ETF future
Derivatives traders are already piling in, though, betting the Securities and Exchange Commission will give the green light to several ETF hopefuls this week and electrify the market.
Asian consumers could soon be paying with stablecoins
Hong Kong put out a proposal last week to license stablecoins. Singapore has already announced similar intentions. It’s very likely that before the end of 2024, the two financial centers will have come up with rules that US lawmakers have failed to adopt after three years of efforts.
US crypto industry lobby spending on track for new record in 2023
Crypto companies spent $18.96 million in the first three quarters of 2023 on lobbying, compared with $16.1 million during the same period in 2022.
US SEC drops claims against two Ripple Labs executives
The agency said in court papers it is dropping claims that Ripple CEO Brad Garlinghouse and co-founder Chris Larsen aided and abetted sales of the cryptocurrency XRP which a judge has found amounted to unregistered sales of securities.
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Federal budget, Senate crackdown may overshadow crypto lobby's push for industry-friendly laws
Dozens of executives from digital asset companies are meeting with lawmakers and their staff on Wednesday as part of a grassroots advocacy campaign organized by Coinbase, the biggest US crypto exchange, and Stand With Crypto, a non-profit it founded.
Coinbase kicks off grassroots campaign to advance US legislation
Coinbase, the largest U.S. cryptocurrency exchange, is stepping up its grassroots advocacy campaign in a bid to advance legislation that will provide regulatory clarity for the industry, the company said.
Sam Bankman-Fried used $100 million in stolen FTX funds for political donations, US says
Sam Bankman-Fried used money he stole from customers of his FTX cryptocurrency exchange to make more than $100 million in political campaign contributions before the 2022 U.S. midterm elections, federal prosecutors said on Monday.
Crypto bills to face congressional committee vote
The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies.
US congressional committee set to weigh crypto bills
Among the legislation the House Financial Services Committee is scheduled to consider is a bill that would define when a cryptocurrency is a security or a commodity and another that would establish a regime to oversee stablecoins.
US congressional committee set to weigh crypto bills
Among the legislation the House Financial Services Committee is scheduled to consider are a bill that would define when a cryptocurrency is a security or a commodity and another that would establish a regime to oversee stablecoins - digital tokens typically backed by traditional assets like the US dollar.
US crypto lobbyists court Democrats in fresh legislative push
The Blockchain Association, Chamber of Digital Commerce, Crypto Council for Innovation, and Coinbase Global are among the groups knocking on doors in Congress to build bipartisan support for a draft bill ahead of a key vote in coming weeks, said half a dozen executives and lobbyists.
The unbooming of crypto boom and other top tech & startup stories this week
By calling out the widespread adoption of private crypto currencies as a risk to monetary stability, the RBI has indicated to the market that its stance will only get harder going forward.
View: Silicon Valley Bank isn't Lehman and 2023 isn't 2008
Back then, we were dealing with collapsing banks and plunging demand; these days, banking has been a back-burner issue and the big problem has seemed to be inflation, driven by too much demand relative to the available supply.
FTX's Sam Bankman-Fried begged for a rescue even as he revealed huge holes in firm's books
Hunkered in his Bahamas apartment, Bankman-Fried toiled through the night, calling some of the world's biggest investors, including Sequoia Capital, Apollo Global Management Inc and TPG Inc, according to three people with knowledge of the matter.
How Binance, FTX deal rocked the crypto world and then collapsed
FTT, the utility token of the FTX exchange, collapsed by more than 40% Wednesday following a tumble of more than 70% Tuesday. But just about every digital coin is struggling. Bitcoin fell as much as 15% to $15,987 on Wednesday, the least since November 2020, which leaves a lot of holders under water.
Binance pulls out of deal to acquire rival crypto exchange FTX
Rival Changpeng Zhao, the CEO of a bigger crypto exchange called Binance, agreed to bail out FTX. But FTX's future grew murkier Wednesday when Binance abruptly said the deal was off
Google-Facebook ad duopoly continues; Ajit Mohan quits Meta to join Snap
Google and Facebook combined posted a 77% year-on-year jump in their ad sales last fiscal while the equalisation levy they paid soared 82%, as per their RoC (Registrars of Companies) filings sourced from Altinfo.
Annual tech gathering takes aim at crypto
More than 100,000 people are expected to gather in Lisbon for the four-day Web Summit, the first full-scale edition since 2019 following the disruption of the pandemic.The conference attempts to bring together start-ups, investors, business leaders and agenda-broadening speakers -- linguist Noam Chomsky and heavyweight boxing champion Oleksandr Usyk are among this year's intake.
US SEC's crypto guidelines push up costs for lenders, disrupting projects
While the guidance applies to all public companies, it is especially problematic for banks because their strict capital rules, overseen by bank regulators, require them to hold cash against balance sheet liabilities. The SEC did not consult the banking regulators when issuing the guidance, according to four of the people.
Amid crypto turmoil, US senators propose sweeping oversight
The bill unveiled Tuesday called the Responsible Financial Innovation Act proposes legal definitions of digital assets and virtual currencies.
US crypto lobbyists in push to contain fallout from stablecoin meltdown
Capitol Hill lawmakers have been quizzing lobbyists on the structure of UST, seeking to determine whether its collapse was preventable and if other stablecoins could suffer the same fate.
How CoinSwitch Kuber got its mojo back after RBI's 2018 ban
Amid increasing calls for clear rules for crypto exchanges and investors, CoinSwitch Kuber is surging ahead with its plans. Over time it aims to diversify into a wealth tech startup that deals in Indian and US stocks, mutual funds, fixed deposits and bonds.
Capitalist monk! A 30-year-old crypto billionaire wants to give his fortune away
He’s a kind of crypto Robin Hood, beating the rich at their own game to win money for capitalism’s losers.
Everyone has crypto FOMO, but does it belong in your portfolio?
There are nearly 9,700 coins and tokens collectively valued at $1.9 trillion, according to CoinMarketCap, which tallies coins that meet certain minimum criteria. Bitcoin, which has been around for 13 years and is now legal tender in El Salvador, accounts for roughly 42% of that value.
YouTube hack hits Indian crypto firms; Budget wish lists for crypto, fintech
The YouTube accounts of various Indian crypto companies including CoinDCX, CoinSwitch Kuber, WazirX and Unocoin were among those compromised in a worldwide hack on Monday morning.
Reliance's quick commerce bet; Ola Electric, dealers' lobby face off
Continuing with its investment spree, Reliance Industries Ltd's (RIL's) retail arm has picked up a stake in quick commerce firm Dunzo as the Mukesh Ambani-led conglomerate looks to expand its presence in the red-hot grocery delivery segment.
US regulators racing toward first major rules on cryptocurrency
Concerned about the potential for a digital-era bank run, the US Treasury Department is working on an oversight framework for the fast-growing sector.
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